New stock news | Mingzhi Technology plans to conduct an IPO in Hong Kong. The China Securities Regulatory Commission requires further information to be provided on the establishment of the shareholding structure and the compliance of the reverse merger.

On May 22, the China Securities Regulatory Commission announced the requirements for supplementary materials for overseas issuance and listing (from May 18, 2026 to May 22, 2026). Among them, the CSRC requested Mingzhi Technology to provide further explanations on issues such as the establishment of the equity structure and the compliance of the reverse merger. According to the Hong Kong Stock Exchange's disclosure on January 30, Mingzhi Technology Co., Ltd. (referred to as Mingzhi Technology) submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Bank of China International as its exclusive sponsor. The CSRC asked Mingzhi Technology to provide explanations on the following matters and to have lawyers verify and provide clear legal opinions: 1. Regarding the compliance of the equity structure establishment and reverse merger. Please explain (1) whether shareholders holding more than 5% of the shares have completed the foreign exchange registration in accordance with the "Notice on Issues Concerning the Foreign Exchange Management of Domestic Residents' Overseas Investment and Return Investment through Special Purpose Companies" (Document No. 37), and whether domestic institutional shareholders have completed domestic regulatory procedures for overseas investments; (2) in the process of establishing a red-chip structure involving the acquisition of domestic entities, please explain the transaction price, pricing basis, tax payments, etc., and whether it complies with the regulations on the acquisition of domestic companies by foreign investors; (3) provide conclusive opinions on whether the process of establishing the equity structure and the reverse merger comply with the then effective regulations on foreign exchange management, overseas investment, foreign investment, and tax management. 2. Please provide detailed explanations on the establishment of the issuer and the domestic operating entity, as well as changes in the share capital and shareholders since establishment, including but not limited to capital increases, share transfers, and related payment situations, whether there are related relationships among shareholders or instances of entrusted shareholding or other benefits transfer; disclose the basic information of shareholders holding more than 5%, whether there are domestic investors in foreign private equity funds; lawyers should provide verification opinions on the legality and compliance of the establishment of the issuer and the domestic operating entity and changes in equity ownership. 3. Please provide supplementary explanations on the compliance of the equity incentive plan, including but not limited to the compliance of the equity incentive plan with foreign exchange management and other domestic regulatory procedures, the presence of external personnel in the equity incentive plan, cases where recipients are not clearly defined, the existence of benefits transfer, and the basis for the verification. 4. Please provide supplementary explanations on (1) whether the business and scope of operations of the domestic operating entity involve restrictions on foreign investment or prohibited access areas; (2) the business operations of overseas subsidiaries and their relationship with domestic subsidiaries. According to the prospectus, Mingzhi Technology is a platform-based medical equipment company, leading the field of disposable urology endoscopes with innovative visual and MICROPORT equipment.